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Plimpton 322 is a Babylonian clay tablet, believed to have been written around 1800 BC, that contains a mathematical table written in cuneiform script.Each row of the table relates to a Pythagorean triple, that is, a triple of integers (,,) that satisfies the Pythagorean theorem, + =, the rule that equates the sum of the squares of the legs of a right triangle to the square of the hypotenuse.
In the history of economic thought, ancient economic thought refers to the ideas from people before the Middle Ages. Economics in the classical age is defined in the modern analysis as a factor of ethics and politics, only becoming an object of study as a separate discipline during the 18th century. [1] [2] [3] [4]
The tableau économique is credited as the "first precise formulation" of interdependent systems in economics and the origin of the theory of the multiplier in economics. [5] An analogous table is used in the theory of money creation under fractional-reserve banking by relending of deposits, leading to the money multiplier. The wage-fund ...
In response to the Economic Calculation Problem proposed by the Austrian School of Economics that disputes the efficiency of a state-run economy, the theory of Market Socialism was developed in the late 1920s and 1930s by economists Fred M. Taylor (1855–1932), Oskar R. Lange (1904–1965), Abba Lerner (1903–1982) et al., combining Marxian ...
Today, Pythagoras is mostly remembered for his mathematical ideas, and by association with the work early Pythagoreans did in advancing mathematical concepts and theories on harmonic musical intervals, the definition of numbers, proportion and mathematical methods such as arithmetic and geometry.
Due to the strong evidence of an egalitarian society, lack of hierarchy and lack of economic inequality, historian Murray Bookchin has argued that Çatalhöyük was an early example of anarcho-communism, and so an example of primitive communism in a proto-city.
This marked the beginning of a boom in atheoretical, statistical models of economic fluctuation (models based on cycles and trends instead of economic theory) that led to the discovery of apparently regular economic patterns like the Kuznets wave. [10] Other economists focused more on theory in their business cycle analysis.
In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a mutual perspective on the way economies function. While economists do not always fit within particular schools, particularly in the modern era, classifying economists into schools of thought is common.